Legendary trader Roaring Kitty posts throwback meme, Solana memecoin $GME skyrockets 500%

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Keith Gill, also known online as Roaring Kitty (also known by other pseudonyms such as DeepF*ckingValue), posted a cryptic meme about X.

Notably, this is Gill’s first post in about three years since the events surrounding the GameStop affair and the shutdown of the WallStreetBets subreddit.

The meme depicts a man leaning forward from a seated position while holding what appears to be a smartphone. Notably, the meme features a red chair and a red arrow going to the right, indicating some sort of movement or change of direction.

Gill is widely credited with increasing the Stoppage of play stock surge in late 2020. Gill worked as a financial analyst, became convinced that GameStop stock was undervalued, and shared this belief on Twitter (now X) and YouTube using the handle RoaringKitty.

In 2019, Gill purchased $53,000 worth of GameStop stock. As he continued to post about the stock on social media, more and more retail traders (ordinary people who trade stocks) began buying GameStop, causing the stock price to rise rapidly. action. When GameStop’s stock price peaked at $483 per share in January 2021, Gill’s investment was valued at nearly $48 million.

Gill’s identity was revealed shortly after GameStop’s shares rose by Reuters, which identified him using public records. In February 2021, Gill testified before Congress about his role in the GameStop stock saga, stating that he believed the stock was “significantly undervalued.”

In September 2022 and 2023, Netflix and Sony Pictures released a documentary series and film titled “Eat the Rich: The GameStop Saga” and “Dumb Money”, respectively, which highlighted Gill’s journey.

A Solana ($GME) memecoin created to commemorate the events surrounding the GameStop controversy suddenly surged 510.9% just over eight hours since Gill’s X post.

“The $GME memecoin honors the anniversary of the GameStop saga, showing that we can stand up to the big guys together,” the token’s official website says.

According to data from CoinGecko, the token’s price has remained largely dormant since its inception in late January. It is still unclear whether Gill has any connection to the token.

Disclaimer: The author does not hold any crypto worth more than $100 and only buys crypto for utility and experimentation, not investment.

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